June 16, 2021 08:23 ET | Source: Research and Markets Research and Markets
Dublin, June 16, 2021 (GLOBE NEWSWIRE) -- The "Reusable Icepacks Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to ResearchAndMarkets.com's offering. Reusable icepacks market is anticipated to grow at CAGR of 8.5% percent during a forecast period of year 2021 to 2029. Reusable icepacks are made up of HDPE (high-density polyethylene), cross-linked polyacrylate, ployalcohol co-polymer refrigerant and other polymers. The bag that stores the reusable gel is made up of polyethylene. These icepacks are used widely in the medical & healthcare, chemicals and food & beverage industries. The icepacks offer temperature-controlled environment to maintain the properties, hygiene and nature of product stored irrespective of the external environmental conditions. These icepacks also assist in transportation of chemicals, food & beverage products over long distances. Water used in the form of ice has a greater tendency to spoil the products and reusable icepacks are water free. Reusable icepacks are durable, hydrates quickly, can be in frozen state for a longer period of time and are non-toxic. These are some of the factors augmenting the growth of reusable icepacks market, globally. Reusable icepacks have variety of features and large applications are propelling the market of reusable icepacks which is beneficial for many industries. Lightweight, easy to use, non-toxic, easy to transport, product longevity etc. are the features of reusable icepacks. Reusable icepacks are used for physiotherapy in medical industry, menstrualcramps, pain relief, athletic injury, shipment of foods, pharmaceutical industry for maintaining temperature, which are growth boosters for this market. Rising demand of cold solutions is the primary factor for the growth in this market In addition to that, growing demand for cold solutions to prevent loss of food will drive the growth of reusable icepacks market. Large amount of perishable food goes waste every year due to lack of proper cold chain infrastructure. Due to dearth of cold chain facilities around 120 MN tons of vegetables and 11 tons of fruits wasted during the period of year 2017-2018. Hence, to bring down such losses, emerging countries like India and Japan are concentrating on developing and implementing solutions based on cold chain which will foster the demand of reusable icepacks. Factor like increasing endorsement of environmental friendly icepacks rather than polythelyne is one of the key factors triggering the growth of market. Environmental friendly icepacks are made from bioplastics.Bioplastic is prepared from corn, wheatand sugarcane is eco-friendly. So, advent of bioplastic will have positive impact on global reusable icepacks market that will boost market growth in forecast period. Ice/Dry-icepacks Propelling the Growth of Reusable Icepacks Market Currently, ice/dry-icepacks is one of the leading product type both by volume and value, and expected to maintain its dominance with highest CAGR during the forecast period. Dry ice, also known as card ice is frozen carbon dioxide. Dry ice is utilized for extremely cold temperatures of around -78.5C (-109.3F) as a cooling agent. The supercool properties and sublimation of solid to gas enhances its applications as a cooling agent in industrial applications. This form of icepack is increasingly used for shipping of medical and clinical laboratory shipments. The property of dry ice to sublimate directly to the gas prevent the saturation of product with water, thereby enhancing its commercial use. Frozen and perishable food is easily shipped with the help of dry icepacks. Apart from this, dry icepack witness surging demand from food and beverage (confectionery industry) such as in shipping of foods such as cheese cakes and pastries. Dry ice keeps the shipments cold thereby protecting product from decaying. Refrigerant gel based icepacks is estimated to be the fastest growing segment during the forecast period owing to its huge application in pharmaceuticals items. Refrigerant gel based icepacks are basically portable plastic sac filled with refrigerant gel. The content in it are frozen in a freezer. They are mainly used for shipping meat, medical supplies, seafood and biological material, among others. Refrigerant gel packs are created by adding propylene glycol, vinyl-coated silica gel and hydroxyethyl cellulose into the bag. Vinyl-coated silica gel helps to maintain the cold and to keep all the ingredients of refrigerant gel packs together. Hydroxyethyl cellulose offers structural strength to the gel packs.
Propylene glycol aims to increase the reusability of packs whereby it can be used multiple number of times without any failure. For shipping and transporting purpose, gel packs are a better alternative compared to ice/dry icepacks owing to the fact that they last longer and are not exposed to extremely cold temperatures that dry ice does thereby keeping the temperature between 2C and 8C depending on the starting temperature and weight of product. It also finds application in pharmaceutical items owing to the fact that refrigerant gel based packs does not contaminate the product. K-Lock Synthetic Gel Packs offered by Cooler Warehouse are water based and aims to maintain a temperature of 0C throughout the phase changing process. These are basically designed to last longer than dry ice while remaining non-toxic, safe and puncture-resistant. North America is the Largest Region in the Global Reusable Icepacks Market North America accounted for the largest value and volume share of reusable icepacks market. Growing inclination of population towards sports activities followed by increasing aging population is mainly driving this market. The U.S held the largest market share and projected to grow at a significant rate in terms of value from 2018 to 2026. According to Centers for Disease Control and Prevention (CDC) 2016, around 53 million people in the U.S. are affected by various bone related disease that includes arthritis owing to physical stress and small injuries.
This in turn is expected to increase the demand for reusable icepacks in North America during the forecast period. Manufacturers are focusing on launch of new and advanced reusable icepacks coupled with sales of therapy packs and online promotion that in turn is expected to fuel the demand for reusable icepacks in North America. Asia Pacific is projected to be the most lucrative market owing to rising demand for reusable icepacks, especially from the healthcare industry. Rising utilization for reusable icepacks in treatment of injuries, muscle spasms, menstrual cramps owing to its high durability, non-toxicity are some of the significant factors for the market growth. There are many local and established players in Reusable icepack market. Some of the major players of reusable icepack market are King Brand Healthcare Products, Reuseit Limited, Techniice USA, Lloyds Pharmacy Ltd., Gel Frost Packs, Ace Hardware Corporation, S.E.A. Olympus Marketing, Inc., icepacks4less Value Products Ltd., Adco Marketing, Ice Packs Store, MyWebGrocer, Inc., Microban Products Company, NavaGen Marketing Private Limited and Fit & Fresh. Key questions answered in this report
Key Topics Covered: 1. Preface 2. Executive Summary 3. Reusable Icepacks Market Dynamics and Outlook 3.1. Market Overview 3.2. Drivers 3.3. Challenges 3.4. Opportunities 3.5. Attractive Investment Proposition, by Geography, 2020 3.6. Competitive Landscape, by Key Players, 2020 4. Global Reusable Icepacks Market, by Product, 2019-2029 (US$ Mn) 4.1. Overview 4.2. Refrigerant Gel Based Icepacks 4.3. Ice/dry Icepacks 4.4. Chemical Based Icepacks 5. Global Reusable Icepacks Market, by Application, 2019-2029 (US$ Mn) 5.1. Overview 5.2. Food & Beverage 5.3. Medical & Healthcare 5.4. Chemicals 6. Global Reusable Icepacks Market, by Geography, 2019-2029 (US$ Mn) 6.1. Overview 6.2. North America Reusable Icepacks Market Market, 2019-2029 6.3. Europe Reusable Icepacks Market Market, 2019-2029 6.4. Asia Pacific Reusable Icepacks Market Market, 2019-2029 6.5. Latin America Reusable Icepacks Market Market, 2019-2029 6.6. Middle East & Africa (MEA) Reusable Icepacks Market Market, 2019-2029 7. Company Profiles 7.1. King Brand Healthcare Products 7.2. Techniice USA 7.3. Lloyds Pharmacy Limited 7.4. Cardinal Health 7.5. S.E.A. Olympus Marketing, Inc. 7.6. 3M Company 7.7. Microban Products Company For more information about this report visit https://www.researchandmarkets.com/r/5yrqon